MSGNMadison Square Garden Network
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Shares of Madison Square Garden (MSG) and MSG Networks (MSGN) have each opened lower after it was confirmed on the Instagram account of "The Boardroom" that prized NBA free agent Kevin Durant will sign with the Brooklyn Nets, not the New York Knicks.
Shares of MSG Networks (MSGN) were down 7% on January 15 when the New York Post reported that Disney (DIS), which is required to sell off the Fox regional sports networks per a mandate from the Department of Justice, is having a "tough time" finding a buyer for the whole package, Imperial Capital analyst David Miller tells investors in a research note.
In addition, post the split-off from MSG Networks (MSGN) in October 2015, investors no longer have to worry about cord-cutting or any other secular concern affecting linear cable networks.